SGX Nifty indicates positive opening for Indian markets

12 Jan 2022 , 07:40 AM

SGX Nifty is at 18,218.00 levels, higher 21.00 points. (Updated at 7:40 AM)

The Nifty saw another close in the green after a weak opening as both foreign & local funds turned buyers with retail buying evident in the highest amount of SIP being recorded for the month of December 2021.

Nifty closed higher by 50 points while Bank Nifty also kept its winning streak gaining for 7 days up 90 points.

IT, ONGC & Adani Port led the gainers while metals, BPCL & Coal India saw profit booking.

For today expect a test of 18200 as global cues coupled with short covering see a positive start to the day.

US Market: US stocks see huge intraday swings with Dow Jones closing at the highs for the day up over 180 points before being down over 300 in intraday trade.

Nasdaq climbs back after an 8-days fall to close up over 210 points as technology stocks bounce back before earnings season this week. US bond yields close near 1.74% while the US$ index sees first signs of weakness closing at 3-month lows near 95.60.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which was up over 350 points in early trade as Asian indices react positively to weaker US$ & prospects of a better earnings season.

Taiwan & South Korean markets should also see more green as supply chain disruptions get sorted in semiconductor markets with production expected to pick up sharply in coming months.